Basically unemployment rate identifies the number of people in percentage which are looking for any job or lively hood as compared to the entire labor force percentage in the state. There are various institutions which calculate this rate according to the consensus, which is being done in every quarter of the fiscal year in Pakistan. The most reliable institution which is accountable for calculating the unemployment rate in Pakistan is the Pakistan Bureau of Statistics. The unemployment rate in Pakistan for the year 2016-2017 is 6 percent. It was 6.30 percent at the start of the second quarter of the fiscal year but at the latter half of the second quarter it declined by 0.30 percent and currently the unemployment rate in Pakistan as per the report of the Pakistan Bureau of Statistics is 6.0 percent.
Unemployment Rate in Pakistan 2016-2017
There is a continuous variation in the unemployment rate in Pakistan, and unfortunately Pakistan is still considered to be one of those countries which have the highest rate of unemployment including both males and females. There are various tenures in which the unemployment rate is increased abnormally due to any internal or external factor, as in the year 2002 the unemployment rate in Pakistan was raised to an all time high percentage which was 7.8 percent while on the hand in the year 1987 in the month of December the unemployment rate of Pakistan was being recorded as the all time lowest which was just 3.1 percent. For the tenure starting from the year 1985 till the year 2016-17 the average unemployment rate in Pakistan is being recorded as 5.4 percent.
There are so many reasons and factors which have contributed in the raise of the unemployment rate in the country and amongst these factors the one reason which is on the top of the list is the power and energy crisis. Due to the threatening energy crisis through which Pakistan is going through has forcefully shut hundreds of industries and mills form Pakistan, which have left millions of people unemployed and jobless. The category of people which are uneducated and unskilled, are going through the most miserable phase in Pakistan. On the other hand the dreadful conditions of law and order has further damaged the national interest as due to excessive terrorism in the state the international investors are unwilling to invest in Pakistan which has immensely reduced the job opportunities for thousands of people and ultimately the unemployment rate in the state is continuously increasing.